Hint of higher rates boosts the ‘krone’

UPDATED: Norway’s krone has been through another period of extreme weakness during the past week, but it gained strength on Thursday. The boost came after the country’s central bank hinted that it may raise interest rates sooner than expected, and then that rates may rise faster. Norges Bank’s Executive Board decided to once again keep […]

Krone falls further against the dollar

It cost as much as NOK 8.32 to buy one US dollar on Monday, after the Norwegian krone fell to its weakest point since the finance crisis. Higher oil prices are no longer enough to keep the oil-producing country’s currency strong. The krone has been weak all autum and especially the past few weeks. Analysts […]

Krone’s latest dive ‘unique, strange’

Norway’s currency, the krone, has been caught in another puzzling downward spiral this week that’s left analysts groping for explanations. Despite more positive economic indicators, the Norwegian krone fell to one of the lowest levels ever against the euro on Wednesday and remained weak on Thursday. After trading at an already relatively weak level of […]

Analysts puzzled over krone’s dive

The value of Norway’s currency, the krone, has taken a dive just during the past 24 hours. The US dollar in particular has become much more expensive, in relative terms, and both economists and analysts are having trouble explaining why. “What’s happening?” asked the chief economist at Nordea Markets, Kjetil Olsen, in his report on […]

Norway’s ‘krone’ sails strongly ahead

Norway’s now-decorative currency, the krone, is getting stronger along with the country’s economy. It’s risen considerably against the US dollar and other key currencies just in the past few weeks, and economists predict that will continue. “Things have been going much better (in the Norwegian economy) than expected,” economist Erik Bruce, chief analyst for Nordea Markets, […]

Norges Bank keeps interest rates low

There was, as expected, no change in interest rates when the executive board of Norway’s central bank (Norges Bank) met on Thursday. The bank board kept its key policy rate steady, at 0.5 percent. That’s where it’s been since March of last year, and most economists and analysts had predicted there would be no change. […]

No change in rates despite weak krone

Norway’s central bank (Norges Bank) decided to keep its key policy rate unchanged at 0.5 percent on Thursday, even though the Norwegian krone has weakened considerably in recent weeks. The weak krone is baffling some local analysts, who can’t understand why it’s lost value as the economy strengthens. “In general I would say that the […]

Oil industry slump due to turn around

UPDATED: Oil prices rose sharply on Wednesday, and the value of Norway’s currency, the krone, immediately jumped as well after the oil cartel OPEC reportedly agreed to cut oil production. Norway’s state statistics bureau SSB now thinks the oil industry downturn is about to turn around and that economic growth will pick up. With oil supply […]

Economy ‘bottoms out,’ krone to rise

Norway’s biggest bank thinks the Norwegian economy has bottomed out for now, predicting some new growth ahead, less reliance on oil prices and a strengthening currency. Oil prices have been rising, too, and that’s always economically good for an oil-producing nation like Norway. DNB Markets, which issued its half-year report on economic prospects for Norway […]

Stronger krone and higher food prices send shoppers fleeing over the border

Norway’s currency, the krone, has suddenly regained strength in recent weeks and that, combined with a sharp rise in food prices at Norwegian grocery stores this summer, has set off a new wave of shopping across the border in Sweden. After diving along with oil prices two years ago, the Norwegian krone that had been super-strong through […]